Chinese e-commerce group chooses Accuity compliance

03 Apr 2019

Chinese e-commerce payments firm Skyee has appointed global financial crime group Accuity to improve and streamline its compliance screening.

Skyee will use Accuity’s Firco Compliance Link, a service which meets international regulatory standards on customer authentication and financial crime screening.

“As a pioneering service provider of cross-border payment solutions, Skyee is committed to eliminating illicit financial activity,” said commercial officer Ivy Huang.

“We have chosen to partner with Accuity due to its comprehensive, intelligent and automated approach, which will speed up our operations and improve our service to customers, while ensuring we are ready for the regulator.”

Using the Firco Compliance Link system, Skyee will be monitoring customer accounts for suspicious activity relating to the international rules on money laundering, sanctions and politically exposed persons.

The system will flag when a case requires close inspection, offering an audit trail and an overview of relevant contentious information.

Bharath Vellore, managing director of Accuity for the APAC region, said it is becoming increasingly important for fintechs to invest in security. “Fintechs are scaling up rapidly and with their increasing relevance in the financial ecosystem, regulatory compliance becomes absolutely critical.”

Vellore said the company was pleased to be working with Skyee as the deal “raises the bar for financial crime screening within Chinese e-commerce”.